The U.S. economy contracted at an annualized rate of 0.3% in the first quarter of 2025, marking the first decline since the first quarter of 2022. This was a sharp reversal from 2.4% growth in the previous quarter and came in below market expectations of 0.3% growth, according to an advance estimate. A 41.3% surge in imports contributed to the slowdown, as businesses and consumers rushed to stockpile goods in anticipation of higher costs following a series of tariff announcements by the Trump administration. Consumer spending growth also cooled to 1.8%, the slowest pace since Q2 2023, while federal government expenditures fell 5.1%, the steepest drop since Q1 2022. In contrast, fixed investment surged 7.8%, the most since Q2 2023. source: U.S. Bureau of Economic Analysis

The Gross Domestic Product (GDP) in the United States contracted 0.30 percent in the first quarter of 2025 over the previous quarter. GDP Growth Rate in the United States averaged 3.20 percent from 1947 until 2025, reaching an all time high of 35.20 percent in the third quarter of 2020 and a record low of -28.10 percent in the second quarter of 2020. This page provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2025.

The Gross Domestic Product (GDP) in the United States contracted 0.30 percent in the first quarter of 2025 over the previous quarter. GDP Growth Rate in the United States is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States GDP Growth Rate is projected to trend around 2.00 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-03-27 12:30 PM
QoQ Final
Q4 2.4% 3.1% 2.3% 2.3%
2025-04-30 12:30 PM
QoQ Adv
Q1 -0.3% 2.4% 0.3% 0.5%
2025-05-29 12:30 PM
QoQ 2nd Est
Q1 2.4% -0.3%

Components Last Previous Unit Reference
GDP Growth Contribution Consumer Spending 1.21 2.70 percentage points Mar 2025
GDP Growth Contribution Exports 0.19 -0.01 percentage points Mar 2025
GDP Growth Contribution Government -0.25 0.52 percentage points Mar 2025
GDP Growth Contribution Imports -5.03 0.27 percentage points Mar 2025
GDP Growth Contribution Investment 3.60 -1.03 percentage points Mar 2025

Related Last Previous Unit Reference
Changes in Inventories 8.90 57.90 USD Billion Dec 2024
Full Year GDP Growth 2.80 2.90 percent Dec 2024
GDP Annual Growth Rate 2.00 2.50 percent Mar 2025
GDP Constant Prices 23526.10 23542.30 USD Billion Mar 2025
GDP from Agriculture 203.50 203.10 USD Billion Dec 2024
GDP from Construction 873.80 863.70 USD Billion Dec 2024
GDP from Manufacturing 2406.80 2402.80 USD Billion Dec 2024
GDP from Mining 343.60 337.60 USD Billion Dec 2024
GDP from Public Administration 2653.10 2635.50 USD Billion Dec 2024
GDP from Services 17050.50 16949.30 USD Billion Dec 2024
GDP from Transport 730.50 721.40 USD Billion Dec 2024
GDP from Utilities 350.80 341.40 USD Billion Dec 2024
GDP Growth Rate -0.30 2.40 percent Mar 2025
GDP Sales -2.50 3.30 percent Mar 2025
Government Spending 3981.70 3996.30 USD Billion Mar 2025
Gross Fixed Capital Formation 4346.80 4265.90 USD Billion Mar 2025
Gross National Product 23620.90 23427.70 USD Billion Dec 2024
Real Consumer Spending 1.80 4.00 percent Mar 2025

United States GDP Growth Rate
On the expenditure side, personal consumption expenditures accounts for 68 percent of total GDP out of which purchases of goods constitute 23 percent and services 45 percent. Private investment accounts for 16 percent of GDP and government consumption and investment for 18 percent. As the value of goods exported (13.5 percent) is lower than the value of goods imported (16.5 percent), net exports subtracts 3 percent from the total GDP value.
Actual Previous Highest Lowest Dates Unit Frequency
-0.30 2.40 35.20 -28.10 1947 - 2025 percent Quarterly
SA

News Stream
US GDP Unexpectedly Contracts in Q1
The U.S. economy contracted at an annualized rate of 0.3% in the first quarter of 2025, marking the first decline since the first quarter of 2022. This was a sharp reversal from 2.4% growth in the previous quarter and came in below market expectations of 0.3% growth, according to an advance estimate. A 41.3% surge in imports contributed to the slowdown, as businesses and consumers rushed to stockpile goods in anticipation of higher costs following a series of tariff announcements by the Trump administration. Consumer spending growth also cooled to 1.8%, the slowest pace since Q2 2023, while federal government expenditures fell 5.1%, the steepest drop since Q1 2022. In contrast, fixed investment surged 7.8%, the most since Q2 2023.
2025-04-30
US GDP Growth Set to Slow Sharply in Q1
U.S. GDP growth likely slowed significantly in Q1, as rising trade tensions began to weigh on the economy. Economists anticipate that GDP figures for the first quarter of 2025, will show a growth rate of just 0.4%, a sharp decline from 2.4% in the previous quarter and the slowest rate since Q2 of 2022. There are expectations the trade deficit might have subtracted as much as 1.9 percentage points from GDP as businesses started to stockpile goods to avoid higher costs. This report won’t include the impact of President Trump’s sweeping “Liberation Day” tariffs introduced on April 2—some of which were rolled back a week later—but it will account for the effects of earlier import duties and ongoing uncertainty surrounding U.S. trade policy.
2025-04-30
US GDP Growth Revised Higher in Q4
The US economy expanded an annualized 2.4% in Q4 2024, slightly higher than 2.3% in the previous estimates, primarily reflecting a downward revision to imports. Exports fell slightly less (-0.2% vs -0.5%) and imports declined more than initially anticipated (-1.9% vs -1.2%), leaving the contribution from net trade positive at 0.26 pp (vs 0.12 pp). Government expenditure also rose more (3.1% vs 2.9%) and fixed investment contracted less (-1.1% vs -1.4%), due to equipment (-8.7% vs -9%) while investment in intellectual property products shrank (-0.5% vs 0%). Residential investment rose at a faster pace than initially anticipated (5.5% vs 5.4%). Meanwhile, personal consumption remained the main driver of growth, increasing 4%, slightly less than 4.2% in the previous estimate, but remaining the biggest gain since Q1 2023. Spending rose for both goods (6.2% vs 6.1%) and services (3% vs 3.3%). Private inventories cut 0.84 pp from the growth, more than 0.81 pp in the previous estimate.
2025-03-27